The four-time MVP victor has played in the past eight NBA Finals with the Heat and the Cavs, winning three titles during that period.

Magic Johnson, the Lakers' president of basketball operations, said in a release, via ESPN, that he's confident James can help the Lakers reach the NBA Finals once more. He loves to compete and is an awesome leader who is about winning and making sure that his teammates are successful. "It's a huge step closer to the playoffs and to the NBA Finals".

James, who won league MVP awards in 2009, 2010, 2012 and 2013, has played in 1,143 career regular-season games (1,142 starts) for Cleveland and Miami, averaging 27.2 points, 7.4 rebounds, 7.2 assists and 1.6 steals per game.

James brought Cleveland its first major sports crown since 1964 when the Cavs won the 2016 NBA crown but lost three of four finals showdowns with the Golden State Warriors, falling to 3-6 for his career in the NBA Finals, and decided to make a move in hopes of rebuilding the Lakers into a victor. Pelinka said it was an honor that James wanted to join the team.

They are thrilled at signing the four-time NBA MVP and the man they called the best in the sport.

LeBron James #23 of the Cleveland Cavaliers celebrates with the Larry O'Brien Championship Trophy after defeating the Golden State Warriors 93-89 in Game 7 of the 2016 NBA Finals at ORACLE Arena on June 19, 2016 in Oakland, California.

James will join a promising but unproven core of young players including 20-year-old Lonzo Ball, 22-year-old Kyle Kuzma and 23-year-Josh Hart.

Shortly after agreeing to terms with James last week, the Lakers agreed to deals with free agents Rajon Rondo, Lance Stephenson and JaVale McGee, and also agreed to bring Kentavious Caldwell-Pope back.